Certified Floodplain Manager (CFM) Practice Exam

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Study for the Certified Floodplain Manager (CFM) Exam with a comprehensive quiz featuring multiple-choice questions, exam tips, and in-depth explanations. Prepare yourself for the CFM certification with confidence!

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Who must purchase flood insurance under the Mandatory Purchase Requirement?

  1. All property owners

  2. Owners of properties with federally backed mortgages in the SFHA

  3. Renters in high-risk zones

  4. All commercial property owners

The correct answer is: Owners of properties with federally backed mortgages in the SFHA

This is because the Mandatory Purchase Requirement applies to properties with federally backed mortgages in the Special Flood Hazard Area (SFHA). This is not limited to just owners, but also includes renters if they are living in a property with a federally backed mortgage. Option A is incorrect as it includes all property owners, regardless of whether they have a federally backed mortgage or not. Option C is incorrect as it only applies to renters in high-risk zones, not all renters. Option D is incorrect as it includes all commercial property owners, rather than just those with federally backed mortgages in the SFHA.